BROWARD COUNTY, FL – The Office of Economic and Small Business Development (OESBD) is proud to announce the launch of the Broward Municipal Service District (BMSD) Revolving Loan Fund (RLF). This new small business lending program will provide flexible, low-cost capital for existing businesses, as well as new start-up businesses in the BMSD.

The RLF provides BMSD businesses and commercial property owners with working capital and commercial real estate loans, along with small business training and other support services. The National Development Council (NDC) is partnering with OESBD, and the Urban League of Broward County to assist existing BMSD businesses, property owners, and entrepreneurs that are interested in starting new businesses or relocating to the BMSD.

“COVID made 2020 a challenging year for businesses, and they need more access to financial resources” said OESBD Director Sandy McDonald. “The Revolving Loan Fund is a new addition to the resource toolbox of support for businesses, exclusively in the BMSD. We are working to make available more support to these businesses during these difficult times.”

NDC will administer the RLF and offer three types of small business loans to for-profit businesses currently located in or moving into the BMSD:

• MICRO-LOANS to small businesses established for 6 months or more with 1-100 employees (loans ranging from $3,000-$10,000)

• START-UP LOANS to new small businesses with 1-100 employees (loans ranging from $10,000-$50,000)

• CAPITAL ACCESS LOANS to businesses established for a minimum of 18 months with 1-100 employees (loans ranging from $50,000-$150,000)

Funds can be used to buy machinery and equipment, to finance tenant and real estate improvements, as well as provide working capital. The loan fund can be accessed by any business in the BMSD. For more information, call 954-625-2557 or visit Broward.org/EconDev.

The Office of Economic and Small Business Development
The mission of this office is to enhance Broward County's economy with value-added job creation, business expansion and retention, small business growth, business development, international trade development, export readiness and entrepreneurial training and development. Services are delivered through partnerships with state, local and private sector organizations. Broward County promotes equal access to procurement opportunities for small business enterprises in local and federal small business programs and helps position small businesses and aspiring entrepreneurs to grow their businesses beyond Broward. Call 954-357-6400 for more information or visit Broward.org/EconDev.

DATE: January 25, 2021
MEDIA CONTACT: Tatyana R. McCall
Office of Economic and Small Business Development
PHONE: 954-357-6400
EMAIL: tmccall@broward.org